REG - SDIC Power Holdings - Fourth Quarter 2021 Operating Results

SDIC Power Holdings CoAnnouncement

12/01/2022 09:45

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RNS Number : 2125Y  SDIC Power Holdings Co., LTD  12 January 2022

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 Fourth Quarter 2021 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Fourth Quarter 2021 Operating Results" as
published on the website of the Shanghai Stock Exchange, and is provided for
your reference only. In case of discrepancy between the Chinese version and
the English version, the Chinese version shall prevail.

 

According to the preliminary statistics of SDIC Power Holdings Co., Ltd. ("the
company"), the company's domestic holding enterprises have completed a total
of 38.840 TWh of gross electricity generated and 37.806 TWh of net electricity
generated in Q4 2021, representing an increase of 7.83% and 7.92% respectively
compared with the same period last year. From January to December 2021, the
company's domestic holding enterprises have completed a total of 153.669 TWh
of gross electricity generated and 149.451 TWh of net electricity generated,
representing an increase of 3.63% and 3.47% respectively compared with the
same period last year.

 

In Q4 2021, the average on-grid tariff of the company's domestic holding
enterprises is 0.321 RMB / kWh, representing an increase of 5.86% compared
with the same period last year. From January to December 2021, the average
on-grid tariff of the company's domestic holding enterprises is 0.319 RMB/kWh,
representing an increase of 6.12% compared with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2021 Q4
is as followed:

 

 Items        Gross Electricity Generated                           Net Electricity Generated                             Average On-grid Tariff

              (TWh)                                                 (TWh)                                                 (RMB / kWh)

              Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)
 Hydropower   23.635          19.938                 18.54%         23.501          19.820                 18.57%         0.241           0.257                  -5.99%
 Thermal      13.762          14.783                 -6.91%         12.892          13.940                 -7.52%         0.437           0.343                  27.35%

 Power
 Wind Power   1.062           0.975                  8.96%          1.038           0.952                  9.00%          0.493           0.494                  -0.09%
 Solar Power  0.380           0.322                  17.91%         0.375           0.318                  17.94%         0.911           0.887                  2.68%
 Total        38.840          36.019                 7.83%          37.806          35.030                 7.92%          0.321           0.303                  5.86%

 

The operating results of the company's domestic holding enterprises from
January to December 2021 is as followed:

 

 Items          Gross Electricity Generated                           Net Electricity Generated                             Average On-grid Tariff

                (TWh)                                                 (TWh)                                                  (RMB / kWh)

                Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)
 Hydropower     88.257          88.453                 -0.22%         87.763          87.952                 -0.21%         0.255           0.249                  2.71%
 Thermal Power  59.011          55.137                 7.03%          55.420          51.885                 6.81%          0.389           0.363                  7.25%
 Wind Power     4.786           3.402                  40.65%         4.671           3.325                  40.47%         0.484           0.479                  0.97%
 Solar Power    1.615           1.290                  25.17%         1.597           1.275                  25.31%         0.918           0.892                  2.83%
 Total          153.669         148.283                3.63%          149.451         144.436                3.47%          0.319           0.301                  6.12%

 

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants in 2021 Q4:

 

1.The main reasons for the overall year-on-year growth of thermal power
generation are firstly due to the influence of the growth of social
electricity consumption, and secondly due to the

reduction of hydropower electricity in some thermal power areas.

 

2.The main reasons for the overall year-on-year decrease of hydropower
generation include: The drought in water flow of Dachaoshan results in the
decrease of gross electricity generated. There is drought in water flow of
Yalong River, but the gross electricity generated has increased slightly
compared with the same period due to the operation of Yangfanggou Hydropower
Station and Lianghekou Hydropower Station.

 

3. The main reasons for the overall year-on-year growth of wind power
generation are the successive commencing commercial operation of wind power
stations and the merger and acquisition of wind power projects by the company.

 

4. The main reason for the overall year-on-year growth of solar power
generation is the merger and acquisition of solar power projects by the
company.

 

Explanation of year-on-year changes in average on-grid tariff of domestic
power plants in 2021 Q4:

 

The cost of thermal price has risen affected by the high coal price. According
to relevant national policies, the price of thermal power is all formed by the
market, and thus the price has increased due to the continuous tension between
supply and demand. Meanwhile, the on-grid tariff of power plants fluctuates
with the affection of the settlement price and settlement cycle

 

Among them, Yangfanggou has not yet defined the electricity price mechanism,
and Lianghekou is temporarily settled according to the transition period
electricity price.

 

Operating results of overseas power plants in Q4 2021:

 

In October 2018, the company completed the acquisition of the 50000 kW onshore
wind power project, Afton Wind Farm Limited, which is in good operation
condition, with a total power generation of 118 million kWh from January to
December in 2021; in July 2019, the company completed the acquisition of the
9800 kW waste-to-energy power project in Bangkok, which is in good operation
condition, with a total power generation of 78 million kWh from January to
December in 2021.

 

 

The Board of Directors of SDIC Power Holdings Co., Ltd.

 

January 12, 2022

 

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